Report: U.S. financial firms hold more cash, just in case

08/26/2008 | Reuters

The ongoing credit crunch has prompted large financial companies in the U.S. to reserve cash, according to a Thomson Reuters report. "Financials are being cautious in the short term by increasing liquidity in case they are faced with a critical situation," wrote Amitesh Kumar, an analyst with Thomson Reuters. Firms included in the Standard & Poor's 500 stock index significantly boosted the percentage of their cash holdings in recent months.

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